Taiwan Launches a New Parliamentary Group to Facilitate Blockchain Development

Taiwan government announced it launches a new parliamentary group called the Taiwan Parliamentary Coalition for Blockchain (TPCB) to facilitate blockchain development and to safeguard investors, reported Coindesk on May 22.

The group was led by legislator Jason Hsu Yu-Jen that wants to regroup politicians from different parties to form a well-defined regulatory framework designated to help the blockchain technology’s innovations.

Hsu expressed multiple times that its nation has to adapt to the blockchain technology in order to stay globally competitive.

The secretary-general of the government’s legislative arm, Lin Chih-chia, expressed that the project will receive full support from the president of the Legislative House, Su Chia-chyua.

Lin mentioned,

“No matter what the blockchain initiative needs – whether it’s human resources, financial resources, or a revision of current law – we will prioritize them for it to let the blockchain industry flourish so that it can be useful in Taiwan.”

According to Hsu’s Facebook feed, the announcement also reveals the creation of the Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO), which aims to build a transparent, fair and reliable to make sure investors are protected.